Bean Option Recap From Jon Karmin

Beans rocketed higher following meal to unprecedented levels.  There is fear in the market and we are trading order flow pure and simple.   The 450M carry out is not relevant at this time.  There is ample opportunity in deferred options as we are seeing downside put buying in next year’s options when the meal pipeline will be adequately resupplied.  SZ vol 26.75 up .5, SF vol 23.5 up 2, SH vol 21.875 up 1.125, SX15 vol 19 up .75.

 

Straddles

 

SZ 1060 40-43

SF 1060 70-72

SH 1060 98-101

SX15 1040 151-155

 

JP Morgan Sold 200 March 1140 Calls 10.5

DRAX Sold 1500 Dec 1060 Calls 5/ Bot 335 Jan futures 1025

Obrien Sold 200 Jan 1000 Puts 18.25

FI Bot 400 Jan 1020 Straddles 62-64

Jefferies Sold 300 Jan 960 Puts/ Sold 300 Jan 1070 Calls 24 credit

EDF Bot 500 March 940/900 Put spds/ Sold 200 Jan 940 Puts 17.75 db

Macquarie Bot 800 Dec 1050/1080 Call spds 7.5-9.75 db

JP Morgan Bot 1000 Jul 1160 Calls/ Sold 1000 Jul 900 Puts 12 db/ Sold 420 July futures 1051

DRAX Bot 1000 Dec 1060 Calls 10-10.5/ Sold 350 Jan futures 1042

Obrien Bot 500 Jan 980 Puts 11.5/ Bot 100 Jan futures 1043

JP Morgan Bot 1000 Jul 1200 Calls/ Sold 1000 Jul 900 Puts 4.25 db/ Sold 360 Jul futures 1051

Goldenberg Sold 600 Dec 1050 Calls 14.25-15/ Bot 264 Jan futures 1042

EDF Bot 750 March 940/900 Put spds / Sold 525 Jan 920 Puts 14-14.375 db

Jefferies Bot 500 Jan 1000/980 Put spds 4 db

Bunge Sold 4000 Jul 960/920 Put spds 8-8.75 credit

ABN Sold 250 Dec 1030 Calls/ Bot 500 Dec 1060 Calls ev-.25 credit

DRAX Sold 250 Dec 1000 Puts 3.25

Obrien Bot 2000 Jan 1080 Calls 24-25.875/ Sold 800 Jan futures 1059

EDF Sold 775 Jan 920 Puts 3-3.625

Obrien bot 250 Jan 1120 Calls 15.75/ Sold 75 Jan futures 1070

Obrien Bot 1000 Jan 1100 Calls 22/ Sold 380 Jan futures 1069

Bunge Sold 200 Dec 990 Puts 2.625

Rand Bot 1000 Jul 900 Puts 13.625-13.75

ABN Bot 400 March 1000 Puts 23-24

 

 

Jon Karmin (JSK)/Jeff Pogonitz (POG) Brokerage

 

Data source: Jon Karmin and Jeff Pogonitz bean option brokers